Park Jae-hyuk is a seasoned journalist who has provided comprehensive coverage of South Korea's corporate dynamics, economic policies, industry challenges and the global positioning of Korean companies. Based on the articles he has written since joining The Korea Times in 2016, his investigative approach has helped readers understand corporate governance, economic trends and business strategies shaping South Korea’s economy.
SK On reaffirms ongoing Ferrari EV partnership
Spectators examine the Ferrari SF90 Spider equipped with SK On batteries at the Korean firm's exhibition booth for the InterBattery 2022 trade show at COEX in Seoul, March 2022. Courtesy of SK On
By Park Jae-hyuk
Korean battery maker says collaboration remains on track
SK On said Thursday its partnership with Ferrari remains firmly on track, after Reuters reported last week that the Italian luxury carmaker may delay the 2026 launch of its second fully electric vehicle (EV) until at least 2028.
“We have not seen any indication of that,” an SK On official said. “Our collaboration with Ferrari remains unchanged and is proceeding as scheduled.”
Citing sources familiar with the matter, Reuters reported June 17 that Ferrari decided to slow its electrification due to weaker-than-expected demand for high-end EVs.
Amid Ferrari’s silence on the issue, concerns have also grown for SK On, as the Korean battery maker has been instrumental in supporting the Italian firm’s electrification from the start.
Since 2019, SK On has provided Ferrari with battery cells to power its first plug-in hybrid supercar, the SF90 Stradale, and its open-top variant, the SF90 Spider. The Korean firm’s batteries were also used for the 296 GTB and 296 GTS plug-in hybrid EVs, which were launched in 2021 and 2022, respectively.
SK On’s batteries are believed to power Ferrari’s first all-electric models, which will be unveiled in October and have a world premiere next spring, with customer deliveries expected to start in October 2026.
Known for its high-nickel NCM (nickel, cobalt and manganese) pouch batteries that allow for longer driving range and better power output, SK On signed a memorandum of understanding with Ferrari last year to enhance their technological collaboration.
“We have been collaborating with Ferrari for several years on their electrification process,” the SK On official said. “We are genuinely impressed by their high level of innovation and rapid development, which is consistently progressing according to plan. Their strong commitment and focus are particularly impressive.”